Crypto Exchange Closure: What Happens to Your Residual Balance and When the Fee Starts

The information provided in this article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry a high degree of risk. Always conduct your own research.When a crypto exchange stops operating, trading ends on a set date but the account does not. Anyone leaving a residual balance behind now pays a monthly fee at the wind-downs currently under way.When a crypto exchange closes, only trading ends at first. The account stays in place initially, and it is precisely that gap that now costs money: at the two wind-downs whose deadlines bite this week, a balance you have not withdrawn is charged a monthly fee from the closing date onwards. At BitMEX, under the published rule, that is $50 a month or 1 percent a year, whichever is greater. The difference from the familiar delisting notice matters. In a delisting, a single token disappears from trading, and you generally have months to move it out. In a shutdown, the whole account is at stake, and the period afterwards is no longer neutral parking. It is paid custody, at a price the provider sets itself. Residual Balance After a Crypto Exchange Closure: What the Term Means A residual balanc...